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THE OFFERING
INVESTMENT HIGHLIGHTS
CONTACT US
PATRICK GALLAGHERExecutive Vice President+1 414 274 [email protected]
WAYNE RAPPOLDSenior Associate+1 414 274 [email protected]
MAX SCHULTZAssociate+1 414 274 [email protected]
Capital Markets | Investment Properties
+ One of the few remaining large-scale development opportunities along Green Bay Road, a six-lane, north-south corridor through Kenosha and Racine counties
+ Property is divisible
+ Adjacent to signalized intersection with traffic counts of ~25,000 VPD and 76,000 residents within a five-mile radius
+ Potential for retail, multifamily and commercial uses
+ Approximately 4.5 miles from full I-94
interchanges at Hwy 142 to the south and Somers Road to the north
+ Since 2013, more than 4,200 jobs, almost $810 million in capital investment, and more than 6.8 million square feet of development have been announced in Kenosha County
Offering Price
Total Purchase
PriceWestern 55 Acres
Frontage 13.8 Acres
Price $4,654,000 $2,324,000 $2,321,000Price Per Acre $67,514 $42,254 $168,188
Price Per Square Foot
$1.55 $0.97 $3.86
GREEN BAY ROAD (HIGHWAY 31)
18TH STREET (COUNTY HIGHWAY L)
OFFERING BROCHURE
COMMERCIAL/MULTIFAMILYDEVELOPMENT SITEGREEN BAY ROAD (STATE HIGHWAY 31) &18TH STREET (COUNTY HIGHWAY L)Village of Somers, Kenosha County, WI
PROPERTY DESCRIPTION
Located in the heart of Kenosha/Racine’s strengthening economic development corridor, the divisible 68.8-acre parcel at the intersection of 18th Street and Green Bay Road (Highway 31) offers the opportunity to develop one of the last large plots of land located at a signalized intersection between Racine County and the Illinois border. Given the continued economic growth in both Kenosha and Racine counties, the parcel is a prime candidate for commercial development, which is in line with both the Village of Somers’ and Kenosha County’s 2035 comprehensive plan.
Green Bay Road is the main north-south corridor through eastern Kenosha and Racine counties, carrying upwards of 20,000 vehicles per day past the site. The parcel has approximately 1/3 of a mile of frontage along Green Bay Road, including curb cuts for future access. One mile to the south of the subject property, a 280-unit apartment project adjacent to an existing Walmart/Sam’s Club has been approved and was recently granted TIF funding. Additionally, a brand new 85,000-SF Festival Foods grocery store opened at the intersection of Green Bay Road and 31st Street.
© 2016 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.
FOR SALEDEVELOPMENT SITE
HIGHWAY 31& 18TH STREET
Somers, WI
Capital Markets | Investment Properties
Property Description
LocationSouthwest corner of Green Bay Road
(Highway 31) and 18th Street (Highway L), Village of Somers, WI
Site SizeApproximately 68.8 acres (2,996,928 square feet)
Property is divisible
Tax Key 82-4-222-221-0102
Current Zoning A-1 Agricultural
2015 Assessed Value $18,200
2015 Property Tax $367.92
2035 Plan Description
In accordance with Kenosha County’s 2035 Compre-hensive Plan, the subject property is designated for
commercial use, which “…includes retail stores; ser-vices, such as drycleaners, barber or beautician shops, banks, and restaurants; and offices and professional services of doctors, dentists, architects, engineers, attorneys, computer programmers, graphic artists,
insurance agents, financial planners, and other similar recognized professions and consultation services. This category may also include downtown business districts, neighborhood and community shopping centers, high-way and regional shopping areas, financial institutions,
and medical facilities.”
FOR SALEDEVELOPMENT SITE
HIGHWAY 31& 18TH STREET
Somers, WI
AERIAL MAP
© 2016 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.
Capital Markets | Investment Properties
PROPERTY
